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Bauman's Frozen Custard

Management Summary

Matthew Bauman has a strong entrepreneurial spirit and he is prepared to invest a great deal of time and effort over the coming years to make Bauman’s Frozen Custard and Italian Ice a successful business venture. The owner has an outside income source and does not expect to see returns on his initial investment until year four. Mr. Bauman shall act as the store manager, with the other owners acting as assistant managers. They shall be responsible for hiring and supervising part time help that will be hired as needed, throughout the year. Additional assistance is acquired on a part-time basis and/or through the use of consultants, specifically in legal matters.  The owner, Matthew Bauman, has close family connections with many consultants who can advise the business. 

Matthew Bauman will graduate from the University of Oregon in July, 2004 with a Bachelors of Science in Business Administration.  He will have a concentration in Entrepreneurial Business. He also studied architecture, prior to becoming a business major. In June of 2000, Matthew Bauman graduated from Chemeketa Community College with an Associates of Arts Oregon Transfer degree. 

Mr. Bauman has previously worked at a start-up pizzeria in his home town. He accepted the job to learn more about starting up an independent, small business and learn the ropes. This year, he started his own race management company.  As a long time runner, Mr. Bauman saw a need for a quality, efficient race management company to host local road races.  His company will host their first race in September 2004. He has also volunteered as an assistant Cross Country coach at Kennedy High School in Mount Angel, OR.

Matthew Bauman’s interest in Frozen Custard was sparked when he first tasted it back in 1997 in St. Louis, Missouri.  Since that date, he has been extensively researching the product, talking with other scoop shop owners, and testing recipes. Mr. Bauman has several mentors in the ice cream/frozen dessert industry across the country, and often calls upon them for advice.

6.1 Personnel Plan

We expect seasonal hiring of part time employees.  Because we will offer no benefits to our employees, full time employees will not be hired (nor are they necessary through the first year.)

We foresee hiring two or three part-time employees besides the two or three owners to begin working in May. Our two or three employees will share hours during the week because we expect to have a paid employee work an average of 5 hours per day for 7 days per week. We will pay wages of $7.10 per hour which is slightly above minimum wage. Matthew Bauman will contribute his time as store manager, with other owner(s) substituting him when needed.

In May, we expect to be open 68 hours per week. This is our summer hourly schedule.  In winter months, we expect to have a paid employee work only 15 hours per week. During the winter months (December, January, and February) we expect to be open 52 hours per week.

Personnel Plan
Year 1 Year 2 Year 3
Part-time employees $8,094 $11,837 $12,784
Owner – Matthew Bauman $0 $0 $0
Other Owner(s) $12,000 $12,000 $18,000
Total People 3 4 4
Total Payroll $20,094 $23,837 $30,784